Stratford man pleads to $1M watch theft

Daniel Tepfer

Updated 12:15 am, Wednesday, July 9, 2014

Gilberto Nieves, the Stratford man charged with one of the largest watch thefts in U.S. history, is facing six years in prison after pleading guilty to stealing more than $1 million in watches from Victorinox Swiss Army. Nieves managed the watch repair department at the company’s Monroe headquarters but over more than a year smuggled 644 high end watches out of the company through the mail room.
Photo: Contributed Photo, Contributed

BRIDGEPORT -- A Stratford man charged with one of the largest watch thefts in U.S. history faces six years in prison after pleading guilty to stealing more than $1 million in timepieces from Victorinox Swiss Army.

Gilberto Nieves, 38, managed the watch repair department at the company's Monroe headquarters, but over more than a year smuggled 644 high-end watches out of the company through the mail room, said Senior Assistant State's Attorney Howard Stein.

On Tuesday afternoon, Nieves, of Edgewood Street, pleaded guilty under the Alford Doctrine to first-degree larceny and conspiracy to commit first-degree larceny.

A plea under the Alford Doctrine means Nieves doesn't admit his guilt, but concedes the state has enough evidence to convict him if he went to trial.

Nieves and his lawyer, John R. Gulash, declined to comment as they left the Main Street courthouse.

In October 2011, Victorinox officials notified Monroe police that they had discovered the theft of the watches, including an 18-carat-gold piece valued at over $20,000.

During a yearlong investigation aided by the FBI, Stein said Monroe police traced a number of the stolen watches to a dealer in San Marcos, Texas, who said he had purchased a number of watches over the Internet for $50,000.

Stein said further investigation determined that the watches were being sold on eBay by Mark and Marie Bancroft, the owners of a Stratford barbershop and pool hall. The Bancrofts had met Nieves at a party and agreed to sell the watches for him, the prosecutor said. They are awaiting trial in the case.

Meanwhile, the prosecutor said, an employee in the Victorinox mail room told police that Nieves had been forwarding packages containing watches to the mail room, which he would later pick up.